Lot:3002 1861即期票据20美元 PCGS Currency 25

Friedberg 11a (W-1905). 1861 $20 Demand Note. PCGS Currency Choice Fine 25.Demand Notes of 1861 were printed by the American Bank Note Company and payable at Sub-Treasury offices in Boston, Cincinnati, New York, Philadelphia and St. Louis. All Demand Notes have hand-signed signatures of Treasury Department employees who signed in place of the actual register of the Treasury and actual treasurer of the United States. Initially these signers added a handwritten "for the" after their signatures. Soon that language was added to the printing plates to save time and effort for the signers. All handwritten "For The" Demand Notes are exceptionally rare with roughly ten each known for the $5 and $10 denominations. The presently offered note is the only known $20 Demand Note featuring the handwritten "For The" addition. That includes not only the New York Sub-Treasury office that this note was payable at, but all others as well.<p>The face presents Liberty standing and holding a sword and shield at center. A large green 20 counter surrounds the vignette at top center while green die protectors are to the left and right of center. Vertical green panels at the ends read TWENTY DOLLARS in white letters. The Sub-Treasury office location is given at bottom center. As with all Demand Notes there is no Treasury Seal. The verso features an ornate green design with small repeating denomination counters and a large 20 counter within a shield shaped element at center.<p><p>Sharply printed engraved design features are of note, as are bold green overprints. The paper displays average circulation and is quite clean for the grade. Minor restorations are mentioned on the back of the PCGS Currency holder. They appear to be expertly executed and limited in scope. This note realized $411,250 when it was last auctioned in January 2014. No other handwritten "For The" $20 Demand Notes are likely to ever be discovered, leaving this as the lone example available to the collecting public. It is a true museum quality item from the monumental Joel R. Anderson Collection.<p><p>Demand Notes were redeemable at par for silver and gold coins, a provision of little importance until late 1861 when uncertainty as to the outcome of the war caused gold coins to be valued at a premium over notes of state-chartered banks, a situation made more complex with the March 1862 authorization of Legal Tender notes not redeemable in specie (silver or gold coins). By mid-1862 nearly all Demand Notes had been redeemed at par in exchange for silver or gold coins. The few that remained in private hands were valued at a sharp premium over Legal Tender Notes of the same face values.<p><p>As a class, Demand Notes were issued from August 26, 1861, to March 5, 1862.<p><p><p><strong>PCGS Population: </strong>1, none finer.<em>From Robert F. Schermerhorn; Harry Bass Research Foundation; Bowers and Merenas sale of the Harry W. Bass, Jr. Collection, May 1999, lot 17; Heritage Auctions sale of September 2008, lot 14862; Heritage Auctions sale of January 2014, lot 17010.</em>